Description

Financial accounts describe the financial balance sheets and
financial transactions of all sectors of the national economy. The
financial balance sheets refer to the stocks of financial
receivables and debts at the end of the statistical reference
period, while the financial transactions refer to the transactions
made during the statistical reference period that influence the
financial balance sheets. Financial accounts are part of the system
of National Accounts.

Data content

In respect of both balances and flows, the data cover all
sectors of the national economy, as well as financial transactions
between Finland and the rest of the world. Since statistical
reference year 1995, the statistics have been compiled in
accordance with the European System of Accounts (ESA 2010), i.e. in
an internationally comparable manner. Unit-specific data of the
accounts must be kept undisclosed. In connection with the financial
accounts, data on non-financial assets are also published.
Non-financial assets include produced assets such as buildings and
inventories and non-produced assets such as land. The total assets
of the sector are obtained by adding up the financial and
non-financial assets.

Classifications used

Classification of Sectors 2012 .

Data collection methods and data sources

Financial accounts are derived statistics. The data sources
exploited in their compilation include numerous statistics and data
files. The main sources are the Bank of Finland's data on monetary
financial institutions and on investment funds, balance of payments
statistics, the Finnish Central Securities Depository's book-entry
register, statistics of the Financial Supervisory Authority on
insurer's investments, bookkeeping of the state, the state's debt
reports, and Statistics Finland's statistics on the finances of
municipalities and joint municipal boards and on business
structures. The data sources are described in detail in the quality
description of the statistics (in Finnish only).

Updating frequency

Time of completion or release

Quarterly financial accounts data are released on Statistics
Finland's website approximately three months from the end of a
quarter. Annual data are additionally released in July.

Time series

Annual financial accounts data produced in accordance with ESA
2010 are available starting from 1995. In addition, annual balance
sheet data deviating from ESA 2010 are available for the 1970-1994
period. These data differ considerably from data on later years in
respect of the coverage and valuation of financial assets, and the
classification of units. Quarterly financial accounts data are
available starting from the last quarter of 1997.